Good News Bad News. Help!!!
The Good news is my short is being approved. The bad News is my short sale is being approved.I Havent gotten short sale approval letter yet but have been promised for a month w/o the letter. Every time , they keep coming back with something. Just last week the HUD was off by .69 cents. I was informed on monday the closings is nov 25 th , auction is 12/2. I have a buyer in place who says he can close by then. I've turned down better offers who can close in December. I'm so close , I can taste it.
Here are my concerns. Finding the right lawyer in Ma .who understands back to back transactions. I have a friend who' lawyer still does double closings. I'm planning on using transactional funding.I'm worried that my seller will try to sell to someone else. even though he has only 12 days. I would want to postpone bank auction to give myself some breathing room. The bank swears this it. Any Advice on that?
I also want to close early b/c I think the seller is up to something even though we have a contract. Has anyone been shafted this close to closing even with a short sale approval. I've done everything i could to keep the family in the house. I've been offered a great price to kick them out. But I gave my word to keep them in no matter what. does the seller have to know that it want be you renting out the house to them or Know that it's going to be flipped.
Need Advice ..... Thanks for all the knowledge I've received from this site.